Return of Premium
An option on some term life policies.
Return of Premium (ROP) may refund some or all eligible premiums at the end of the term if you outlive it and meet the policy requirements. The contract explains which payments count and what happens if the policy ends early.
What to compare
- The premium with and without the feature.
- Which fees or rider charges count toward a refund.
- How cancellation, lapse, or a claim affects any refund.
Read more from the New York Department of Financial Services.
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